Go short on this one, the channel is being respected and with the other pattern indicators the price will fall until the support inside the pattern channel above.
The pair broke the ascending big channel from 2017 and retested the new resistance twice in the past week. Right now we are having a correction inside the channel and the price should go until the support one more time. There is also a trendline bearish goingo on since the begginig of 2018 and it seems to be respected as well. So, my reading is that the pair will fall. Today we have na importante data about aussie NAB business confidence index that increased by 2 points to 10 in April 2018 but will also have the US-North Korea Summit which can make usdollar stronger along the way. Good luck and enjoy the day.
The pair broke the ascending big channel from 2017 and retested the new resistance twice in the past week. Right now we are having a correction inside the channel and the price should go until the support one more time. There is also a trendline bearish goingo on since the begginig of 2018 and it seems to be respected as well. So, my reading is that the pair will fall. Today we have na importante data about aussie NAB business confidence index that increased by 2 points to 10 in April 2018 but will also have the US-North Korea Summit which can make usdollar stronger along the way. Good luck and enjoy the day.
Trade closed manually:
Closed with 9% profit In this short position... great deal here! Good luck folks!
Comment:
So its happening... go short and be alert to the reversal point or the bearish breakout around 0,7540.